The Corner

Sharia Indexes?

Wow, this is all new to me:

NEW YORK — Dow Jones Indexes, a leading global index provider, has been named “Most Outstanding Islamic Index Provider of the Year” at the 5th KLIFF Islamic Finance Awards 2008 held recently in Kuala Lumpur, Malaysia.

The award honors the significant efforts and contributions of Dow Jones Indexes to the Islamic Finance industry and was presented by Y.B. Tan Sri Nor Mohamed Yakcop, minister of finance II of Malaysia.

“This award acknowledges our leadership and dedication to provide the most comprehensive, reliable and objective family of Islamic indexes. The Dow Jones Islamic Market Indexes were the first to measure the performance of Shari’ah-compliant stocks and bonds, and have set the standard for Islamic indexing in the past decade,” said Michael A. Petronella, president of Dow Jones Indexes. “Dow Jones Indexes remains committed to the further development of innovative, premier benchmarks tracking Shari’ah-compliant securities worldwide.”

Launched in 1999, the Dow Jones Islamic Market Indexes seek to measure the global universe of investable equities that pass screens for Shari’ah compliance. The Dow Jones Islamic Market Indexes combine Islamic investment principles with Dow Jones Indexes’ objective, transparent and rules-based methodology.

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